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Note 15 – Common Stock | 6 Months Ended
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Oct. 31, 2023
Equity [Abstract] |
Note 15 – Common Stock | Note 15 – Common Stock Our common stock has a par value of $0.001 per share. We are authorized to issue 500,000,000 shares of common stock. Each share of common stock is entitled to one vote. A summary of shares of common stock issued by the Company since April 30, 2022 is as follows:
Description of Shares |  | Shares Issued
Shares outstanding as of April 30, 2022 |  |  | 53,748,735 |
Vesting of restricted stock to employees, net of shares withheld of 273,874 to pay taxes and 9,000 to repay a Note |  |  | 653,308 |
Vesting of restricted stock to Board of Directors |  |  | 116,507 |
Vesting of restricted stock to consultants |  |  | 9,683 |
Shares issued for services |  |  | 39,832 |
Shares outstanding as of April 30, 2023 |  |  | 54,568,065 |
Vesting of restricted stock to employees, net of shares withheld of 18,935 to pay taxes |  |  | 94,971 |
Vesting of restricted stock to Board of Directors |  |  | 113,530 |
Vesting of restricted stock to consultants |  |  | 1,761 |
Conversion of preferred stock |  |  | 818,334 |
Issuance of common stock through ATM facilities |  |  | 53,235 |
Shares outstanding as of October 31, 2023 |  |  | 55,649,896 |
ATM Facility In August 2023, we entered into a sales agreement (“the 2023 ATM Facility”) with ThinkEquity LLC (“ThinkEquity”), which provides for the sale, in our sole discretion, of shares of our common stock having an aggregate offering price of up to $17 million through ThinkEquity, as our sales agent. The issuance and sale of these shares by us pursuant to the 2023 ATM Facility are deemed “at the market” offerings as defined in Rule 415 under the Securities Act of 1933, as amended (the Securities Act), and are registered under the Securities Act. We pay a commission of up to 2.5% of gross sales proceeds of any common stock sold under the 2023 ATM Facility. During the six months ended October 31, 2023, we sold an aggregate of 53,235 shares of common stock under the 2023 ATM Facility, at an average price of $1.07 per share, for gross proceeds of approximately $57,000 and net proceeds of approximately $55,700, after deducting commissions and other offering expenses payable by us. Additionally, the Company incurred legal fees of approximately $46,000 establishing the 2023 ATM Facility. As of October 31, 2023, approximately $16,943,000 of common stock remained available to be sold under the 2023 ATM Facility, subject to certain conditions as specified in the sales agreement. Subsequent to the quarter ended October 31, 2023, in December 2023, the terms of the 2023 ATM Facility were amended to change the aggregate offering price to up to $4,375,000.

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